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Detroit’s Big Three auto makers responded to the city’s bankruptcy filing with expressions of optimism that the city can emerge stronger from its painful financial restructuring.

Unsaid in their statements, but well understood by everyone in Detroit and its suburbs, is that General Motors Co. and Chrysler Group LLC are examples of institutions that have thrived since shedding burdensome debts in bankruptcy. The two auto giants went through government-led bankruptcies of their own in 2009, and are now racking up strong profits as auto sales recover.

“GM has assessed the potential implications of Detroit’s bankruptcy and we do not anticipate any impact to our daily operations or business outlook,” the auto maker said in a statement. GM has its headquarters in downtown Detroit – the only one of the Detroit Three with its head office in the city – and has a factory located partly in the city, and partly in the adjacent city of Hamtramck.

“Our first thoughts, however, are with our neighbors throughout the city,” the auto maker said. “GM is proud to call Detroit home and today’s bankruptcy filing is a day that we and others hoped would not come. We believe, however, that today also can mark a clean start for the city. We hope that all parties recognize the sacrifices to follow can help rebuild a stronger Detroit with a level of services and quality of life its citizens deserve. A healthy auto industry will play a part in Detroit’s comeback story and GM is doing its part.” Read More »